Leading banks are continuing to transform their ecosystem through the introduction of new technologies that facilitate a rich and personalised digital experience for their customers. The increasingly widespread automation of self-service facilities lowers operating costs and provides added value to all stakeholders. Now more than ever, it is software that is fuelling this evolution in service excellence.
Latest multichannel solutions satisfy demands of digital banking
A typical ‘dream list’ regarding banking services includes the need for a seamless service across the branch, virtual and mobile banking channels. Services should be automatically adjusted to each customer’s circumstances and be easily enhanced in line with the evolving needs of both the bank and its customers. Happily the ‘dream list’ from yesteryear is now a reality; modern, multichannel strategies are increasingly adding a human dimension to the digital interactions that continually reinforce the quality of the customer relationship, for banks and customers alike.
The competitive pressure on banks to attract and retain customers has never been more intense. Traditional gimmick marketing approaches are becoming ineffectual as customers become more savvy and insist on having banking options that satisfy their own needs, whether they are at home, at work, or on the move. In this new age, many customers regard the ‘face’ of their bank to be the screen of their smartphone rather than the cheerful bank agent’s smile. Banks need to abandon the traditional models of independently evolving service channels in favour of a coherent, customer-centric, multichannel approach where compelling service is available at anytime and anywhere.
The good news is that modern, multichannel solutions are now available that comprehensively satisfy the complex demands of digital banking. Moreover, the ability to personalise services to a customer’s specific needs empowers the banks to add a ‘human’ dimension to its virtual channels, thereby reinforcing the quality and mutual satisfaction of the relationships they nurture with their customers.
Banks seek vendor independence
Hardware costs are falling in many sectors and the banking industry is no exception. The proliferation of smartphones and tablets, and new inventions in wearable computing, are providing exciting options for self-service. The traditional ATM market is also being transformed by several new entrants whose rapidly maturing reputations make them a genuine threat to the incumbent ‘Big 3’. This highly dynamic hardware landscape is certainly good news for the banks as they stand to benefit from the myriad of new opportunities emerging from the fusion of the internet and emerging service technologies. However, a bank can only truly exploit these opportunities by embracing the right software strategy, specifically one founded on the principles of multi-vendor and vendor-independent support. Only then can a bank achieve fully-inclusive, affordable, and effective service integration across all channels regardless of the underlying hardware.
Obviously the right hardware will remain an important ingredient in any self-service strategy. However, it is also true that hardware is, and will continue to become, a commodity. Smart banks are actively embracing vendor independence in their choice of software to ensure that they retain maximum buying power in this emerging age of inter-vendor price wars.
Furthermore, it stands to reason that independent software vendors must commit themselves wholeheartedly to true device independence and the ultimate in software quality, robustness, and versatility. Quite simply, software vendors have no alternative revenue streams to fall back on – they quite literally live or die by the effectiveness of their software to deliver real and lasting business advantage.
The power of multichannel banking with Auriga’s WinWebServer
This philosophy of multichannel, hardware-agnostic software excellence has been the cornerstone of Auriga’s activities for over twenty years. Auriga’s WinWebServer (WWS) is at the forefront of multichannel banking in the highly innovative and competitive Italian banking market and is powering the strategies for leading organisations including Intesa Sanpaolo, Poste Italiane, Cariparma, Cartasì and Banca Marche. In each case, WWS’ ability to separate and protect the banks’ investments in business services from changes in the underlying hardware allows Auriga’s customers complete freedom in the deployment of new services across any mix of self-service hardware, be they ATMs, deposit and recycling devices, tablets, smartphones or branch teller systems.
WWS’ service oriented architecture makes it easy to integrate with any bank environment, including message oriented legacy applications. Another distinctive feature is the ability to develop a new service once and deploy it across multiple different channels, resulting in a seamless banking experience regardless of a customer’s choice of channel. As a result, banks can easily introduce a variety of revenue-generating services, such as the payment of prescription charges, university tuition fees, football game tickets, public transport season tickets or money transfers through the Western Union circuit.
Auriga’s innovative approach and delivery excellence have been acknowledged by its success in the field. WWS is the most widespread solution for multichannel banking and channel integration in Italy with a market share of 64%. Furthermore, with over thirty thousand ATMs managed by WWS, Auriga now enjoys a market share of 13% in western Europe and a growing reputation worldwide.